The Week: City News - ITV pledges more savings

ITV has announced that it is making good progress towards delivering on its target of saving around £155 million in 2009, but has said that further cost-saving measures will be required over the next few years due to a continuing weakness in advertising revenues.

As a result, the broadcaster has pledged to increase its total cost savings to £215 million in 2010 and £285 million in 2011. So far this year, ITV has cut 600 jobs, closed its Yorkshire TV studios and reduced its annual programming budget in a bid to save cash.